The US Ministry of Justice accused BITEX and OHANA Capital Financial of cryptocurrency fraud – Bits Media

The Utah district prosecutor’s office in the United States accused the founder of BITEX LLC and Ohana Capital Financial James Wolfram in fraud using digital assets, deceiving investors and money laundering.

According to a statement from the U.S. Department of Justice, James Wolfigram (James Wolfgramm), known as Semisi NIU (Cursor), James Vaka NIU (James NYeive) и Spanish form, accused of seven criminal offenses, fraud using electronic means of communication and money laundering through crypto assets. Due to his fraudulent cryptocurrency schemes, investors incurred large losses, Moreover, many of them did not have sufficient knowledge about working with crypto actures.

Wolfgram used different pseudonyms on social networks, PROSEDING FOR MULTIMILIONERS. To impress potential investors and arouse confidence in them, He published photos with luxury cars, expensive hours and other luxury items. However, investigators established, that these were other people's photos, taken from other accounts on social networks.

Wolfgram deceived two investors on $1.7 million, Selling them a “powerful cryptocurrency mining machine” called Bitex Blockbuster. Wolfigrams demonstrated one of the devices in his office, allegedly connected to the screen, on which the pre -recorded mining cycle was shown, which gave the impression of efficiently working equipment.

As for OHANA Capital Financial, The company provided financial services to persons without access to banking services. The Wolfgram managed to collect several million dollars from customers as a deposit. This money was to be stored in client accounts until then, until users themselves do not want to get them out. However, funds were spent on commercial expenses, not related to the company.

Since the number of cases of cryptocurrency fraud has increased over the past few years, This month, the US Ministry of Justice announced the creation of the National Group for Supervision of Compliance with Cryptocurrency Legislation. The target group will also participate in the investigation of crimes with digital assets.